Factory gate prices remain high

29/08/2008 15:00

Factory gate prices of Dutch manufactured products were more than 12 percent higher in July than twelve months previously. For the third month in a row, prices increased by more than 10 percent. Soaring oil prices accounted for nearly half of the increase. The dollar price of a barrel of North Sea Brent oil was nearly 80 percent higher in July 2008 than twelve months previously. The price increase in euros was less substantial (55 percent) due to depreciation of the US dollar against the euro.

Selling prices in the petroleum processing and refining industry were 48 percent higher in July than one year previously. Prices of chemical products went up by 15 percent. Food prices rose by nearly 8 percent. At the beginning of 2008, food prices increased by nearly 13 percent. Subsequently, the price increase gradually slowed down.

In July 2008, factory gate prices in manufacturing industry were 1.1 percent up on the preceding month. Prices for products sold on the domestic market rose less rapidly than prices for exported products.